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  • Missed Circle’s IPO? ReserveOne might be next.

Missed Circle’s IPO? ReserveOne might be next.

PLUS: ETH becomes the new treasury favorite, XRP enters smart contracts, and CLARITY Act gets industry-wide support.

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Cryptopolitan News
July 09, 2025 • Estimated Reading Time: 12 minutes

🧠 ReserveOne to go public with $1B Crypto IPO plan

ReserveOne is a crypto investment firm that plans to go public on the Nasdaq later this year by raising over $1 billion. Instead of doing a traditional IPO, it will list through a SPAC merger, a shortcut that’s becoming more common in finance.

Wait, what’s a SPAC merger?

A SPAC, or Special Purpose Acquisition Company, is a company that raises money from investors and then looks to merge with a real, operating business.
Once the merger is complete, the operating business (in this case, ReserveOne) becomes a public company. This route is faster than a traditional IPO and can help companies list with less red tape.

ReserveOne will merge with M3-Brigade Acquisition V Corp, a SPAC already trading under the ticker MBAV.O. Post the merger they will have a new ticker, to be disclosed later.

What does ReserveOne do?

ReserveOne is building a large fund that will hold major cryptocurrencies like Bitcoin, Ethereum, and Solana. But instead of just holding them, it will lend and stake those tokens earning passive income and rewards.
That’s how it plans to make money: from crypto price growth and from putting crypto to work.

Who’s behind it?

ReserveOne has a high-profile team from finance, government, and crypto:

  • Jaime Leverton, former CEO of crypto miner Hut 8, is leading the company.

  • Sebastian Bea, who worked at BlackRock and Coinbase, is president.

  • Reeve Collins, co-founder of Tether, will chair the board.

  • Wilbur Ross, former U.S. Commerce Secretary under Trump, also joins the board.

Why does this matter?

It’s the latest sign that Wall Street and Washington are taking crypto more seriously.

The model is similar to what MicroStrategy did in 2020 with Bitcoin, but ReserveOne will hold a mix of assets and offer a more diversified approach. The company says its goal is to make crypto investing safe, familiar, and appealing to institutions especially those not ready to hold crypto directly.

With Circle also preparing for a public listing, this could signal a new wave of public crypto companies.

Who’s funding it?

ReserveOne is backed by Kraken and Blockchain.com, who are contributing up to $750 million in a mix of equity and convertible debt.

SpaceX, the private rocket company founded by Elon Musk, is about to sell $1 billion worth of shares, a move that would slap a $400 billion valuation on the company, according to Bloomberg.

📊 Market Watch:

Over the past week, something interesting happened in crypto. And it’s not about the charts.

A handful of public companies are quietly rethinking their treasury playbook. Instead of hoarding cash or Bitcoin, they’re loading up on Ethereum. Some are selling off other assets just to do it.

Let’s break it down.

1/ GameSquare is betting big on ETH

GameSquare Holdings just launched a treasury strategy built entirely around Ethereum.

  • They’re allocating up to $100 million in ETH.

  • The goal is to earn 8 to 14 percent annual yield by staking and lending.

  • This is not a one-time buy. They’re partnering with crypto capital firm Dialectic to actively manage it.

To kick it off, GameSquare raised $8 million by selling shares and is already deploying the funds into ETH.

SharpLink Gaming has quietly accumulated 205,000 ETH since late June.

  • They earned over $850,000 in staking rewards in just a month.

  • They raised $64 million to fund these buys and plan to keep going.

Joe Lubin, Ethereum co-founder and chairman of SharpLink, says this strategy is about long-term value. “It’s financial discipline,” he told reporters.

3/ Bit Digital ditched Bitcoin for Ethereum

Nasdaq-listed Bit Digital sold all its Bitcoin holdings to go all-in on ETH.

  • They used the $172 million from the sale to buy over 100,000 ETH.

  • CEO Sam Tabar says they want to become the largest ETH-holding company in the world.

“We believe Ethereum has the ability to rewrite the entire financial system,” Sam said.

What this means

ETH is still moving within a tight range. At the time of writing, it’s trading around $2,600 range. But these corporate moves tell a different story. Institutions are beginning to treat ETH as a productive asset, not just a speculative one.

As Joe Lubin put it on CNBC,

“Wall Street pays attention to what makes money.”

LetsBonk.fun is taking over Pump.fun’s territory, with three consecutive days of rapid expansion. Despite claims that the platform’s traffic is driven by bots, the meme launchpad has also grown it has a solid organic ecosystem.

⚙️ Protocol Watch

1,400 smart contracts in a week. XRP’s new EVM sidechain is off to a strong start.

The XRP Ledger has long been known as a payment network. But now, it's taking a big step into smart contract territory—with developer demand already showing up fast.

On June 30, XRP’s long-awaited Ethereum-compatible sidechain officially went live. Within just one week, nearly 1,400 smart contracts were deployed.

Why it matters

This new sidechain brings Ethereum tools like Solidity, MetaMask, and Hardhat to the XRP ecosystem. Developers can now build apps that tap into XRP’s strengths—fast transactions, low fees, and high throughput while using the tools they already know.

  • The sidechain supports up to 1,000 transactions per second.

  • Block times are just 3.4 seconds.

  • No changes are needed to existing Ethereum-based tools.

According to Peersyst Technology, one of the key developers behind the project, the response has been immediate: “The need for smart contracts on XRP is crystal clear.”

What Ripple is building

Ripple’s goal is clear: turn XRP from a payment-only chain into a full blockchain operating system. That includes:

  • Cross-chain support via Wormhole, a messaging protocol that connects dozens of blockchains.

  • Real-world asset tokenization, lending tools, and low-cost payments.

  • A growing validator network—25 independent validators were live on day one.

And it’s not just talk. Axelar, a top cross-chain protocol, says over $100 million has already flowed through XRP corridors enabled by this new setup.

This sidechain could serve as a low-fee, high-speed alternative for developers looking beyond Ethereum and Solana.

Billionaire Elon Musk’s X post drew attention to Solana’s Peanut the Squirrel (PNUT) token, which has so far climbed more than 10% in price in just 24 hours.

🏛️ Regulation Watch

Coinbase and 65 crypto organizations have just sent a letter to Congress, urging them to pass the CLARITY Act, a bill that could finally bring order to U.S. crypto regulation.

What is the CLARITY Act?

The bill aims to end years of confusion by clearly dividing responsibilities:

  • The CFTC will oversee most digital assets (like Bitcoin and Ethereum).

  • The SEC will regulate assets that are classified as securities (like certain tokenized offerings).

This split will help avoid power struggles between agencies and give crypto companies a clearer rulebook to follow.

Why the industry supports it

In the letter, signed by major players like Coinbase, OpenSea, and Dapper Labs, the message was direct: “Crypto is reshaping the global economy, and the U.S. risks falling behind without clear rules.”

They argue that unclear regulations are pushing talent, investors, and startups overseas. Without a national framework, it’s harder for companies to grow—and easier for other countries to lead.

What’s next in Congress

The House is preparing for what they’re calling “Crypto Week,” starting July 14. Lawmakers will debate:

  • The CLARITY Act

  • The GENIUS Act (which sets rules for stablecoins)

  • The Anti-CBDC Surveillance State Act (to block a U.S. central bank digital currency)

The GENIUS Act already passed the Senate and has President Trump’s backing. The CLARITY Act passed two House committees in June and could head to a full House vote soon.

Not everyone is on board

Some Democrats are pushing back hard. Rep. Maxine Waters called the CLARITY Act “Trump’s crypto con,” accusing it of serving his business interests. Trump and his family have earned hundreds of millions through crypto-linked ventures like stablecoins, NFTs, and mining firms.

Critics say the bill may weaken protections and give too much freedom to risky crypto projects. The fear? That it’s more about profits than policy.

The U.S. is gearing up to legislate the future of crypto and this month could decide how far, and how fast, it moves.

Emirates has signed a Memorandum of Understanding (MoU) with global cryptocurrency platform Crypto․com to explore the integration of crypto payment services into its retail operations

Market-moving headlines 🔥

BTC traders often track the DXY metric because of the correlation between the dollar’s dominance and Bitcoin’s pump and dump cycles.

Cathie Wood is still all-in on Elon Musk, even as Tesla stock continues to tank and his political ambitions get louder.

The Polymarket community raised the alarm on flawed oracle decisions. Voting on UMA protocol swayed a prediction market with over $200M at stake.

The NFT market has reached its lowest point in a year and a half, suggesting a long winter in digital collectibles ahead.

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